SPRING 2007
VOL. 8 NO. 2

Subscribe to the print version. It's free!

LEADERSDigest

Smith’s first Freshman Fellows off to a great start ◊ QUEST team wows judges
Updates on Smith School in China ◊ Primetime is crime time for businessmen ◊ Job training in Gaza brings hope

When Greg Hanifee, MBA ’86, went to visit the American Chamber of Commerce in Shanghai shortly after moving to China in 2003, his alma mater was the last thing on his mind. But outside an office in the same building 7,500 miles from “home” was a small sign that read Robert H. Smith School of Business. So he poked his head inside and learned that Smith had set up shop there to launch an Executive MBA program Shanghai. Since then, Hanifee has become one the school’s most active ambassadors in China, helping to recruit students and participating in other Smith activities in Shanghai.

Hanifee is president and general manager in Asia for Verizon Information Services, which sells advertising and publishes print and online directories, like the Yellow Pages. Hanifee manages more than 300 employees in Shanghai, all of them Chinese. He says he speaks enough Chinese “to get by,” but the number one challenge he and other managers in China face is recruiting and retaining qualified employees. He says he spends a disproportionate amount of time focusing on his top employees and comparing his own HR and retention policies with those of other organizations.

“The economy is so hot here that it’s not uncommon for qualified people to switch jobs one or two years into employment because they can get a 20, 30 or 40 percent pay raise. If you talk to business leaders here, they’ll say the number one challenge is in human resources and how do we retain and recruit top candidates.”

Hanifee is succeeding in this dynamic foreign environment because he, like many Smith graduates, understands and appreciates the influence of globalization, entrepreneurship and technology in the rapidly-changing economy. He believes other Smith School graduates will have the same edge in the global marketplace. “The real advantage of the Smith graduate now is not just the nuts and bolts of finance and marketing or human resources. It’s how to think about all of those things with information technology,” says Hanifee.

“The pace of change—because of technology—is incredible,” says Hanifee. “The Smith School’s entrepreneurship and information technology focus will help our graduates be positioned well to compete in today’s and tomorrow’s economy. I don’t think anyone could have predicted when I was in business school exactly what would be happening now and how small the world has gotten because of technology.”

Hanifee’s advice to other Smith alumni with aspirations in China? In some ways, it’s not as big of a leap as you think. In others, it’s a pretty big leap.

“You have to come in being a little bit humble because it’s a very different business environment from what a lot of people are used to. But if you are willing to absorb and learn, you can make great strides here. You can certainly make great friends,” he says.

For the past two years the Smith School has shared its expertise in entrepreneurship with emerging business leaders in the world’s fastest growing economy via the its annual China Business Plan Competition. Recognizing the dynamic economic and cultural changes occurring in China, the Smith School has created a forum that provides entrepreneurs with a source of early stage capital and valuable exposure to potential investors.

“In many ways a Chinese culture of entrepreneurship is simultaneously in the nascent and advanced stages,” says Asher Epstein, managing director of the Smith School’s Dingman Center for Entrepreneurship, which organizes the competition. “There’s a great innate entrepreneurial instinct in China – but broad cultural acceptance and the economic reforms to fully support it are still maturing.”

Last year, five finalist teams made the cut to participate in the grand finale event held in Beijing on September 13. Looking their best in freshly-pressed business attire they competed for $50,000 in prizes in front of a panel of venture capitalist judges and more than 150 guests from around the globe.

The teams and competition highlight the emergence of a generation of young business leaders within China who are eager to try out their ideas and make a mark on the global stage.

For example, the team members from Coolbar, a company that delivers a new mobile advertising platform and the competition’s $25,000 grand prize winners, are all from Tsinghua, one of China’s most prestigious universities. While each has held a position at a blue-chip multinational company – traditionally the brass ring of achievement – Coolbar’s founders are far more interested in the comparatively riskier prospect of striking out on their own.

“It is a great time to be an entrepreneur in China,” said Tony Gao, Coolbar chief executive officer. “The risks are far outweighed by the rewards and the Smith School’s annual China Business Plan Competition was definitely a valuable learning experience and resource.”

As the Smith School’s annual China Business Plan Competition enters its third year the Smith School has aggressively expanded the competition’s reach and scope by partnering with China Central Television (CCTV), the major broadcast television network in mainland China.

The Win in China – Smith Business Plan Competition launched on Sept. 29, and is being co-organized by the Dingman Center and CCTV’s Win in China televison program – a high-stakes reality series loosely based on “The Apprentice” with a huge following in China. The competition is intended to compliment the Win in China television series.

“The support of CCTV and Win in China enables us to exponentially increase our impact and momentum,” said Howard Frank, Smith School dean. “We have created an unbeatable partnership by leveraging Win in China and Smith’s areas of excellence and expertise – to offer truly world-class educational and entrepreneurial opportunities to even greater numbers of people.”

Eight grand prizes valued at $100,000 will include all-expense-paid trips to the United States for business training at the Dingman Center for Entrepreneurship. Cash prizes totaling $50,000 will be awarded to the top three winners. As CCTV’s exclusive academic partner for Win in China, the Smith School will award scholarships valued up to $100,000 to Smith’s world-class executive education programs to the winners of the Win in China television program.

Look for more information about the Win in China – Smith Business Plan Competition at the Smith School China Web site: www.rhsmith-umd.cn.